Trading Edges That Last
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GBPUSD Apr 08 to Apr 12 Outlook
Lawrence’s Comment
Got Y+1 early in the week. But not holding Y-0 at all as cable collapsed back down to below Y-1. Yet it did not stay below Y-1. Another push lower failed to tag Y-2 and zoomed back up since. Cleared Y-0 in 1 go and then tagged Y+2. Closed the week near Y+2 and week high.
Outlook
2nd half of week was partially driven by news shock. Momentum will carry the pair higher into early next week so price above B+1 is expected. If Y+3 acts as resistance, it is likely cable will consolidation between Y+3 down to Y+1.
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